ADB Warns Public Against Fake Loan Scams

The Asian Development Bank (ADB) has issued a public warning over a growing number of fraudulent schemes in which criminals misuse the organisation’s name, logo and the identities of its officials to offer fake loans and financial assistance in exchange for money. The development institution said fraudsters are increasingly targeting individuals through fake websites, counterfeit social media pages, forged identification documents and other deceptive methods.

In a warning issued by ADB’s Dhaka office on Monday morning, the organisation said it had recently become aware of several incidents where individuals falsely claimed to be ADB representatives or officials. These fraudsters allegedly approached people with promises of loans, grants or financial support before demanding money under various pretexts, including application fees, registration charges, processing costs or other administrative expenses.

ADB made it clear that it does not provide direct personal loans, grants, funds or any other form of financial assistance to individuals. The organisation also stressed that it never asks members of the public to share private banking details, mobile financial service information, national identity documents or make payments in exchange for receiving financial support.

The institution advised people to treat any such offer or communication claiming to come from ADB as suspicious. Individuals should remain particularly cautious if they are asked to make advance payments or provide sensitive personal and financial information.

According to ADB, scammers are creating fake online platforms designed to look similar to genuine institutional channels in order to gain public trust. In many cases, they use fabricated identity cards, false appointment letters, fake approval documents and other forged materials to make their claims appear legitimate. The organisation reiterated that it has no connection with such activities and that any person or group using its identity for financial fraud is acting without authorisation.

ADB urged the public not to respond to any offer of personal loans, grants or financial assistance made in its name. People have also been advised not to engage in financial transactions with unknown individuals or organisations claiming to represent the development bank.

The organisation further recommended that anyone who receives suspicious communication claiming to be from ADB should report the matter to the appropriate law enforcement authorities. Prompt reporting, it said, could help prevent further fraud and protect others from falling victim to similar schemes.

The warning comes amid wider concerns over the misuse of international development institutions’ identities in online fraud. Similar allegations previously emerged involving the misuse of the World Bank’s name, prompting warnings that the institution also does not provide direct personal loans or request money or private financial information from individuals.

ADB remains one of Bangladesh’s long-standing development partners, working with the government and various organisations on projects related to infrastructure, energy, education, healthcare, transport, climate resilience and economic development. Its financial assistance is delivered through established institutional frameworks and transparent procedures involving recognised partners.

The bank emphasised that any individual claiming to represent ADB and offering direct personal loans or financial support should be considered part of a fraudulent scheme. The organisation encouraged the public to verify information carefully and remain alert to attempts that exploit the reputation of trusted